The Department of Treasury’s Federal Insurance Office finalized its proposed Climate-Related Financial Risk Data Collection. The FIO in June released a report analyzing climate-related issues and gaps in U.S. insurance supervision and regulation, calling state regulatory efforts fragmented and limited. …
Amazon.com used a series of illegal strategies to boost profits at its online retail empire, including an algorithm that pushed up prices U.S. households paid by more than $1 billion, the U.S. Federal Trade Commission detailed in a new court …
Tesla on Oct. 31 won the first U.S. trial over allegations that its Autopilot driver assistant feature led to a death, a major victory for the automaker as it faces several other lawsuits and federal investigations related to the same …
Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of its admissions policy, Harvard University is now looking to hold its insurance broker, Marsh, responsible. Harvard’s excess insurer Zurich American …
Shoring up loss reserves and adding “the premium equivalent” of a top 8 personal auto insurer to its books has put Progressive in a better place now than it was at the end of the second quarter. The carrier’s chief …
Markel said Bryan Sanders, president of its Markel Specialty division, plans to retire by December 31, 2024. Sanders, who joined Markel in 2013 as part of the Alterra Capital Holdings, Ltd. acquisition, has more than 42 years in the insurance …
NEXT Insurance said Allstate and Allianz X have invested $265 million in the digital small business insurer. NEXT and Allstate will partner on bringing new commercial products to what they call an underserved target market of 33 million small businesses. …
A U.S. jury on Tuesday found the National Association of Realtors and some residential brokerages, including units of Warren Buffett’s Berkshire Hathaway liable to pay $1.78 billion in damages for conspiring to artificially inflate commissions for home sales. The verdict …
American International Group (AIG) during the third quarter recorded a 264% increase in underwriting income within its General Insurance segment to $611 million as adjusted pretax income in the segment increased to about $1.37 billion compared to $750 million the …
Allstate Corp. said its net loss for the third quarter was $41 million compared to a loss of $685 million during the same time a year ago. The Northbrook, Illinois-based insurer recorded an improvement in its third quarter combined ratio …
